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20121219
20121219
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Search Results 0 to 2 of about 3 (some duplicates have been removed)
LINKTV
Dec 19, 2012 5:30am PST
billion in penalties. regulators in the u.s., u.k. and sorts when charged ubs and manipulating a key interest rate known as libor. >> his was person -- pervasive manipulation of global benchmark interest rates by dozens of staff across three continents. and the heavy fine reflects the regulator's concerns. the ubs chief executives said those of all but the extent of the fraud and bribes maybe revealed by further criminal investigations. in just one instance revealed by the u.k. financial services authority, ubs made corrupt payments of around $24,000 a quarter for 18 months to brokers to thank them for helping them manipulate the global industry. libor is used to price more than $350 trillion of contracts around the world. potential losers include pension funds, insurance companies, and individuals. more than a dozen banks have been caught up in an international inquiry and there are more cases to come. >> i would imagine there are probably more skeletons in the covered, and that really think that some point policy makers and regulators need to start focusing on the fact that we will
LINKTV
Dec 19, 2012 3:00pm PST
detention of u.s. citizens from the national defense authorization act, or ndaa. the senate approved an amendment that would prevent the military from imprisoning any u.s. citizen or permanent residents deemed a terrorism suspect without charge or trial. but according to the new york times, congressional negotiators have dropped the provision in the effort to merge the bill's house and senate versions. the swiss banking giant ubs has been ordered to pay a $1.5 billion fine for its role in the manipulation of the london interbank offered rate, or libor, which provides the basis for rates on trillions of dollars in transactions across the globe. the rigging of libor meant millions of borrowers paid the wrong amount on their loans. the bulk of the fines, $1.2 billion, will be paid in the u.s., with the rest going to britain and switzerland. ubs has also admitted to committing wire fraud through its tokyo branch on libor rates in japanese currency. at least nine medical workers have been killed in a series of attacks on a polio vaccination effort in pakistan. three people were k
Search Results 0 to 2 of about 3 (some duplicates have been removed)